STL Moms – January is divorce month

STL Moms
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ST. LOUIS - Happy new year; here are your divorce papers.

Apparently, that is what a lot of couples plan for 2015. Attorney Jonathan Marks with the Marks Law Firm visited KTVI Wednesday morning to discuss January being “divorce month” in both St. Louis and across the nation.

Marks offers important financial advice for those of you considering divorce to make the process go more smoothly.

Gather financial documents. Collect your year-end statements from banks, brokerages, credit card companies and make copies. Having important documents on hand early in the divorce process means you avoid trying to get copies of them later.

Assess your credit. Request a copy of your credit report, and correct any misinformation it contains. Good credit is the foundation of your financial future. Without credit it can be near impossible to obtain loans for any purpose, or even to manage the expenses of running your household.

Open accounts in your own name. As a single woman, you will need your own bank accounts and credit cards. It is never too soon to set these up. Use a different bank than where you currently have joint accounts, and open both savings and checking accounts in your name alone.

Assemble a professional divorce team. If you’ll be divorcing in 2015, it’s a good idea to begin researching divorce professionals who can steer the process such as a family law attorney and a therapist/counselor, especially if children are involved.

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